Decentralized apps (DApp) continue to be a major focus point for developers in the crypto space. However, 2019 ended with DApps still far off from reaching their much-touted potential of being the “future of the internet.”
DApp projects in 2019 continued to suffer from their usual issues like poor user retention and the difficulties of navigating user interfaces (UI), among others. While some projects boast market capitalizations north of $100 million, they fail to attract more than a handful of daily users.
In the early weeks of 2020, some analytics firms dedicated to monitoring the DApp ecosystem have released reports summarizing the performances of DApp developers and projects in 2019. These reports paint a similar picture for the decentralized apps ecosystem with significant increases in on-chain transactions and new projects without any corresponding improvement in user statistics.
Also troubling is the trend of the high DApp turnover rate with as many new projects appearing as those being decommissioned. While such trends might appear common for nascent technologies, DApps will require some staying power to present themselves as viable applications of the emerging blockchain narrative.
However, the 2019 DApp market performance did throw up some positives with decentralized finance (DeFi)-focused platforms and non-fungible tokens (NFT) rising to some prominence within the broader ecosystem.2019 DApp market review
As previously reported by Cointelegraph, both DApp aggregator DappReview and DApp analytics platform Dapps.com have published detailed reviews of the performance of decentralized apps in 2019. The following is a summary roundup of the information gleaned from both reports.
According to DappReview, on-chain DApp transactions in 2019 amounted to $23 billion with more than 1,900 newly added applications. Dapp.com, however, puts the number of newly added DApps for 2019 at about 1,450, a slight decrease from ...